Abu Dhabi’s leading business conglomerate, Al Masaood Group has signed a distribution agreement with leading French innovation company Sunstream International to spearhead the future of solar panel solutions in the GCC region.
The agreement is aimed at creating the widest and the most sustainable range of patented containerized, towable, and movable solar stations, which can be used in the agriculture, oil & gas, mining, and road construction sectors in the GCC region.
The Group said that the agreement also intends to generate green and local electricity even in hazardous, remote, and challenging conditions.
“The Middle East is at the center of the global energy transition with a huge influx of investment for renewables, including the solar energy sector. We as a leading power solutions provider understand our role in facilitating the transition to clean and renewable energy sources, with GCC countries switching to green and sustainable economies. The GCC solar photovoltaic (PV) market is expected to grow at a CAGR of around 12.5 percent during the coming years with the countries in the region targeting to increase the share of renewable energy in their energy mix by 2050. This partnership also represents an important short-term and long-term business opportunity as the GCC countries are an ideal market for renewable energy deployment.”
With this agreement, Al Masaood Power Division intends to use Sunstream International’s first generation of mobile and modular plug-and-play solar solutions on a larger scale to meet the energy demand of the GCC, as per the statement.
Mr. Frederic Bouvet-Haas, CEO of Sunstream International said that, “We, at Sunstream International, believe that innovation will save our planet. The shared agenda to generate green and local electricity is in line with our partner Al Masaood Power Division’s commitment to facilitate the region’s transition to clean and renewable energy sources aimed at fostering sustainable economies.”
“After having installed big wind and solar parks worldwide for more than a decade, we have decided to design the first generation of mobile and modular plug-and-play solar solutions, minimizing environmental impacts and eliminating the use of concrete or cement. The GCC region is ready for achieving more sustainable production of green electricity, in record time without complex civil work requirements,” Mr. Bouvet-Haas added.